Polaris Ltd. (SG:5BI) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Polaris Ltd., a Singapore-based company, is proceeding with a capital reduction exercise to cancel S$398,256,000 in share capital, equivalent to its accumulated losses as of December 31, 2023. This move, subject to shareholder approval at an upcoming extraordinary general meeting, aims to address losses mainly from impaired investments and operational inefficiencies. The capital reduction will adjust the issued share capital, thereby tidying the company’s balance sheet.
For further insights into SG:5BI stock, check out TipRanks’ Stock Analysis page.